Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Vintage Sport And Leisure Placed Into Liquidation

Sports festival operator Vintage Sport and Leisure (VSL) has been placed into liquidation. Tony Maginness and Jared Booth of Baker Tilly Staples Rodway have been appointed liquidators.

Founded in 2000, New Zealand-based VSL is a global sports event management business focused on the marketing and organisation of destination sports events. Since 2004 it has operated sports festivals under the Vintage Sports brand, acquiring the Golden Oldies brand from Air New Zealand in 2012. Both are directed at individuals and clubs in the 35 years and above demographic, with work currently underway planning the first Golden Oldies Association Football (Soccer) event.

“The impact of COVID-19 on the business has been devastating, given the core business is heavily dependent on international travel. However, as lockdowns and quarantine requirements lift, the business will be able to roll out more events and it is likely the impacts will be limited to FY2021,” said Maginness, Director, Specialist Services at Baker Tilly Staples Rodway.

Maginness believed there would be strong interest to buy the business.

The Golden Oldies and Vintage Sports brands are protected by trademarks in several countries and enjoy a very high level of name recognition in all key markets. The business also has an active database of more than 100,000 individuals, teams, associations, and clubs that have supported and participated in festivals ranging from rugby and netball to hockey, cricket and softball.

“It operates globally, with employees and agents in key markets. VSL is also a virtual business, not requiring office premises, and can be run entirely remotely, from anywhere in the world. With a COVID vaccine ready to be rolled out, VSL can be back up and running and profitable next year,” Maginness said.

“This is a great opportunity to buy an exciting business with experienced staff and huge growth potential at a discounted price. If local tourism is anything to go by, there is likely to be a lot of pent-up demand to travel and take part in events when the international borders open up.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>